QUOTES by Mark Zandi
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"The economy so far has gracefully digested the higher energy prices _ amazingly so."
Quote by -Mark Zandi
"It's similar to asking a big part of the labor force to leave. In today's economy where the job market is at capacity, asking people to leave means the economy will not grow as fast. In fact, there could be a very difficult adjustment over the first three to four years when this process is in full swing."
Quote by -Mark Zandi
"The economy hit a pothole in the fourth quarter. I'm not at all worried about the health of the economy."
Quote by -Mark Zandi
"The economy is strong, and if history is a guide it should suggest inflationary pressures should develop, but they haven't. Given the crosscurrents in the economic inflation data, it will difficult for him to be clear-cut."
Quote by -Mark Zandi
"He doesn't have the wide range of experience Greenspan did going into the job, which has served Greenspan well."
Quote by -Mark Zandi
"This is a significant economic event. This is much more substantial than any other natural disaster that the U.S. has experienced."
Quote by -Mark Zandi
"So far, the surge in oil prices has yet to do any significant damage to the broader economy. We may see some softening in the consumer spending numbers soon, but unless that translates into a weaker job market, the economy should be able to weather these higher energy prices."
Quote by -Mark Zandi
"The economy is going to be hit hard by Katrina, and it is going to be hardest on consumers who are already stretched thin. With the surge in gasoline and home heating oil prices, consumers will have a difficult choice to make between filling their gas tank or spending on other things."
Quote by -Mark Zandi
"The potential for even higher energy prices is a risk to the economic outlook. The economy has digested the higher prices gracefully so far. But it can get a bit of indigestion if prices move higher."
Quote by -Mark Zandi
"In the absence of a second layer of information, we all assume the job growth is from hiring. It is our default position."
Quote by -Mark Zandi
"The economy hit a pot hole in the fourth quarter. I'm not at all worried about the health of the economy."
Quote by -Mark Zandi
"Trade is far and away the largest weight on the U.S. economy at present. This is a risky time."
Quote by -Mark Zandi
"The economy is much improved over the past year but it's still underperforming."
Quote by -Mark Zandi
"the economy has weathered these storms about as gracefully as could be expected."
Quote by -Mark Zandi
"Housing is a fault line in the economy that Greenspan is indeed worried about, but he doesn't think a housing (slowdown) will undermine the expansion."
Quote by -Mark Zandi
"Housing, the strongest part of the economy, is still booming, and manufacturing, the weakest part, should gain strength in coming months. Put it all together and it paints a pretty economic picture of solid growth and low inflation."
Quote by -Mark Zandi
"The economy is good, but it hasn't improved for everybody. The gains have predominantly gone to higher-income and higher net-worth households. Lower net-worth households are still struggling."
Quote by -Mark Zandi
"The economy is strong and, if history is a guide, it should suggest inflationary pressures should develop, but they haven't."
Quote by -Mark Zandi
"Broadly speaking, the economy is in a pretty good place. But it's no longer obvious what the next step should be. Now it gets a lot more complicated."
Quote by -Mark Zandi
"Given the recent surge in energy prices and higher medical costs, many will not be made whole by the increase. The increase is backwards looking; it represents inflation over the last year. In the near term, inflation will be greater."
Quote by -Mark Zandi
"There has been a global pick-up in inflation due to the surge in energy prices, and that gives cover for US manufacturers to lift their prices more aggressively. Central banks across the globe are tightening policy in fears that the surge in energy prices will infect inflation more broadly."
Quote by -Mark Zandi
"If you add up all the energy that flows through the region, it accounts for about a third of the nation's supply."
Quote by -Mark Zandi
"I don't really put too much weight on the big ups and downs in the energy prices. And food prices also fell. That probably is related to the warm winter weather, and we can't count on that continuing for very long, either."
Quote by -Mark Zandi
"Consumers are reeling from the high energy bills and that has to be watched very carefully. Another month of falling consumer confidence would be disturbing."
Quote by -Mark Zandi
"if the financial markets were reeling and the images from the Gulf were getting worse instead of better, if energy prices were rising instead of falling. But given the economic data and financial markets, there's no reason to make a symbolic move."
Quote by -Mark Zandi
"If illegal immigration came to a standstill, it would disrupt the economy. It would lead to higher prices for many goods and services, and some things literally would not get done. It would be a major adjustment for our economy, for sure."
Quote by -Mark Zandi
"The economy is much improved over the past year but it's still underperforming,"
Quote by -Mark Zandi
"This suggests that the economy has largely shrugged off the ill effects of the hurricanes. Christmas will turn out better than expected."
Quote by -Mark Zandi
"If the job market doesn't kick into higher gear soon, consumers will lose confidence and rein in their spending, and the economy will in all likelihood fall back into recession unless we're very lucky."
Quote by -Mark Zandi
"The consequences are more serious. Right now there is zero margin for error. Nothing can go wrong."
Quote by -Mark Zandi
"[At a minimum, this will hit consumers' pocketbooksâââ‰â¬Âand perhaps their confidence. Before Katrina, Goldstein estimated that consumers' annual fuel bills this year would average about $250 more for gasoline and $400 more for home heating oil and natural gas than in 2004. Now he reckons those amounts will go up 30 percent to 75 percent. Costlier energy could adversely affect consumer spending, corporate profits and inflationâââ‰â¬Âor all three.] We could be reaching a tipping point on consumer psychology, especially when people get their home heating bills, ... Those will be big."
Quote by -Mark Zandi
"Of the 2.7 million jobs lost since employment's peak, roughly a third have been lost to overseas competition, and most if not all of those jobs are not coming back, ... And that trend is going to continue."
Quote by -Mark Zandi
"I would attach a reasonably high probability that there will be a problem in the housing or finance markets that will test the next Fed chairman."
Quote by -Mark Zandi
"The new chairman will want to show his inflation-fighting mettle. Early on, Chairman Greenspan was on the aggressive side to establish his credentials."
Quote by -Mark Zandi
"The risks are clearly that inflation will accelerate further because of energy."
Quote by -Mark Zandi
"The surge in energy prices we have seen to date will be partially passed through to consumers."
Quote by -Mark Zandi
"As the memory of the tech bust fades, we seem to be getting better and better job growth."
Quote by -Mark Zandi
"This should be a year where the tech market stabilizes but I don't see job growth until 2004."
Quote by -Mark Zandi
"Consumer spending growth will moderate, but it won't impede the current pace of economic expansion."
Quote by -Mark Zandi
"It is correct that health care costs are rising more quickly than incomes or wages, and that employers are passing more of their greater health care costs onto workers. But the increase in health care spending is not greater than the increase in incomes or wages."
Quote by -Mark Zandi
"In the near term, it's a plus ... a steady source of jobs and income. In the longer term, it's an increasing amount of economic resources going to a part of the economy that may not enhance underlying productivity."
Quote by -Mark Zandi
"The work force is growing not because employers are hiring a lot of new workers to staff expanding operations. The economy, in other words, is not being driven by businesses out there scouring for opportunity and revenue growth and pushing up wages as they compete to hire more workers."
Quote by -Mark Zandi